ShoafWoolard395
Aus Salespoint
2 year Review Of Louisville KY Homes For Sale
With 2010 all in all, there isn't any better time for you to think back and take stock and just how truly putrid the Louisville real estate market has been and how bad the near future looks for Louisville homes for sale! How do you like this one for any uplifting opening?
Rather than going through all sorts of data, I wish to look at only two charts today. The first is going to be for asking prices and the second will be inventory amounts of homes actively available on the market within the town of Louisville. I will not be checking out surrounding counties, and this data doesn't include sold properties, multi-family units or condos, just single homes for sale in Jefferson County.
I'll open with asking prices, the amount of money that home sellers are placing on their listings when they're available on the market and searching for a buyer. Normally, when we possess a decent market, you would expect incremental increases in prices. To ensure that whenever we compare home prices in December of 2010 to December of 2009, we would normally want to see a little rise. And if we glance even more back than this past year, we'd anticipate seeing a level bigger increase.
But that's not the case within our current environment! Our prices today are less than these were both in 2009 and 2008. Ouch. Which holds true for weekly data points recorded over the past two years as well as trend lines within the same period. At this point in 2008, weekly data points show something around $149,000 for a median selling price. My most recent measurement now shows a median cost of $145,000, a $4,000 drop in two years. Rather than increasing house values, we've actually seen a nearly 3% drop!
They are driving the purpose home further, as we pick almost any date, and look backwards, we will see our 2010 values are well off previous measurements. For example, let's look at median asking prices of Louisville homes for sale on July 1st for each of the past two years. This year, home prices were $155,000 around the first day's July. Twelve months earlier, prices were at $169,000. For that percentage lovers available, that's over an 8% drop in one year. How about choosing a date within the springtime, like the first day in April? This year, data shows median prices at $154,000 when compared with $160,000 in 2009.
OK, now I've established that asking prices of Louisville homes have not been burning for the past 2 yrs. It's time to proceed to inventory amounts of properties for sale. Back in December of 2008, there were approximately 3,750 single family homes easily obtainable in the town of Louisville, according to recorded data points. That number grew to a high water mark of over 5,300 captured before falling back to the most recent measurement of approximately 4,300 available units.
I suppose you could reason that we view a significant reduction in the number of homes on the market, since we dropped about 1,000 properties previously nine or ten months. But that ignores the fact that we currently convey more properties for sale than we did at this time this past year and the year before.
If you are an objective person, you have to look at the data and recognize that our costs are lower now than at the moment either in of these two preceding years, and also at the same time frame, we've more homes available on the market at the moment than either of the two preceding years. Obviously, this is not the manifestation of a recovering market, but rather an indication that people still have lots of homes to buy and equity to revive before we can say our market has rebounded.
